Can we close an HDFC account with a negative balance?

ACCOUNT CLOSURE HDFC Bank, for example, doesn’t charge any fee if the customer closes the account within 14 days. If the account is closed between 15 days and six months, it charges ₹500, and ₹250 if it’s closed between six months and one year, according to its website.

Can I close a savings account with a negative balance?

No. You cannot close your bank account with a negative balance. You may only close it after bringing your balance to positive and paying the bank penalties. However, your bank can force closure of your account if you fail to satisfy your debt within the time your bank allows you to do so.

Can a bank close your account for being negative?

Your bank can and will close your account if it’s negative for too long. Once your account gets closed, you’ll still owe the money to your bank, too. Having your account closed by your bank could be the least of your problems, though. Banks have their own set of reporting bureaus, just like the credit bureaus.

How do I close my HDFC savings account?

In Order to close your HDFC bank Account, you have to visit your nearest branch where you can ask for the account closure form. After obtaining the form fill all of the requirements and submit the form to the bank executive along with Debit Card, Passbook, and CheckBook.

What will happen if minimum balance is not maintained in HDFC?

Banks are allowed to charge non-maintenance of minimum balance penalty to the customers but there is no cap on the charges. So, if the AMB is below ₹2,500 in an urban branch account, the charges are ₹600 per month while if the AMB is less than ₹10,000 but above ₹7,500, the charge is ₹150.

How can I close my saving account in HDFC?

Can I close my HDFC account? In Order to close your HDFC bank Account, you have to visit your nearest branch where you can ask for the account closure form. After obtaining the form fill all of the requirements and submit the form to the bank executive along with Debit Card, Passbook, and CheckBook.

How long can your bank account stay negative?

As a matter of policy, banks vary the time they take to close negative accounts based on the size of the overdraft and the banking history with the consumer. This is where banking loyalty works in your favor. Many typically wait 30 to 60 days before doing so, while others may wait four months.

How can I close my HDFC Bank account online with negative balance?

To close your account in an easy way, ensure that you drain out all the funds parked in your account. The easiest way to do this is through net banking. Simply transfer all the money to some other account through NEFT, RTGS or IMPS. The balance in your account should be Zero.

Should I pay the HDFC or close the account?

We may required hdfc in future for any loan so i think its better to pay and close the account. There is a RBI circular which says saving account should not be charged after zero balance i.e should not go in negative. You can closenegative account (Due to AMB NON maintenance) without paying

What should I do if my HDFC savings account has a -56000?

Originally Answered: HDFC savings account has a negative balance of -56000 as I was charged 3.5\% for international withdrawal through ATM. what should I do now, should I pay or close this account? It’s the standard charge for cash withdrawal. Kindly enquiry bank about any wavier in fee and try to settle as a compromise.

How do I get rid of minimum balance charges in HDFC?

The easiest way to get rid of minimum balance charges is by maintaining balancing or closing your account. The Account closure process is pretty easy you just have to follow some steps. If you’re searching for How to Close HDFC account then here is how you can do it. Can I close my HDFC account? Can we close the bank account online?

Why did my savings account balance turn negative?

Many borrowers, who are unable to repay their loans due to the financial crunch, have seen their savings account balances turn negative. Lenders have been regularly sending auto debit requests to bank accounts of borrowers who are in financial hardship and are unable to repay.